Standard Chartered Leads Credit Swap Surge for U.K. Banks

  • Stock trades below price of $5.1 billion right offering
  • Bank's shares at lowest in more than 17 years in London

As fears grow over the stability of the European banking system, Standard Chartered Plc is being hit by a double whammy in credit markets with investors increasingly worried about the U.K.-based lender’s business in Asia, where it earns most of its revenue.

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